Deutsche Funds Announce Results of Annual Meeting of Shareholders

September 03, 2014 05:00 PM Eastern Daylight Time

NEW YORK--(BUSINESS WIRE)--The Boards of Trustees of Deutsche High Income Trust (NYSE:KHI),
Deutsche Multi-Market Income Trust (NYSE:KMM), Deutsche Municipal Income
Trust (NYSE:KTF), Deutsche Strategic Municipal Income Trust (NYSE:KSM)
and Deutsche Strategic Income Trust (NYSE:KST); and the Boards of
Directors of Deutsche Global High Income Fund, Inc. (NYSE:LBF) and
Deutsche High Income Opportunities Fund, Inc. (NYSE:DHG) (each, a
“Fund” and collectively, the “Funds”) announced today the results for
the 2014 Annual Meeting of Shareholders for each Fund held on September
3, 2014.

For each of KHI, KMM and KST, a quorum was present and the Class III
Trustee nominees (John W. Ballantine, Dawn-Marie Driscoll, Kenneth C.
Froewiss and Rebecca W. Rimel) received a sufficient number of votes to
be elected as Trustees.

For each of KSM and KTF, a quorum was present and the Class III Trustee
nominees (John W. Ballantine, Kenneth C. Froewiss and Rebecca W. Rimel)
and preferred share Trustee nominees (Keith R. Fox and Paul K. Freeman)
received a sufficient number of votes from the common and preferred
shareholders voting together as a class and from the preferred shares
voting separately as a class, respectively, to be elected as Trustees.

For LBF, a quorum was present and the Class III Directors nominees
(William McClayton, Rebecca W. Rimel and William N. Searcy, Jr.)
received a sufficient number of votes to be elected as Directors.

For DHG, a quorum was present and the Class I Director nominees (John W.
Ballantine, Dawn-Marie Driscoll, Kenneth C. Froewiss and Rebecca W.
Rimel) received a sufficient number of votes to be elected as Directors.

Deutsche Global High Income Fund, Inc. seeks high current income with
a secondary objective of capital appreciation. The Fund is subject to
investment risk. Bond and loan investments are subject to interest-rate
and credit risks. When interest rates rise, bond prices generally fall.
Credit risk refers to the ability of an issuer to make timely payments
of principal and interest. Floating rate loans tend to be rated
below-investment grade and may be more vulnerable to economic or
business changes than issuers with investment-grade credit. Investing in
foreign securities, particularly those of emerging markets, presents
certain risks, such as currency fluctuations, political and economic
changes, and market risks. Leverage results in additional risks and can
magnify the effect of any gains or losses.

Deutsche High Income Opportunities Fund, Inc. seeks high current
income with a secondary objective of total return. The Fund pursues its
investment objectives by investing primarily in securities designed to
generate income, with the potential for capital appreciation being a
secondary consideration.The Fund may invest in a broad range of
income-producing securities, including, but not limited to, domestic and
foreign debt securities of any credit quality or maturity (including
below investment grade debt securities and debt securities of issuers
located in countries with new or emerging securities markets),
convertible securities (including convertible bonds), dividend-paying
common stocks, preferred stocks, and securities of real estate
investment trusts (“REITS”), energy trusts and other investment
companies.The Fund may invest in debt securities not paying
interest currently and securities in default.In addition, the
Fund may invest in senior bank loans, including bank loan participations
and assignments.The Fund may buy or sell protection on credit
exposure and may also purchase securities on a when-issued basis and
engage in short sales.The Fund may invest in cash or money
market instruments in the event portfolio management determines that
securities meeting the Fund’s investment objectives are not readily
available for purchase. Future earnings of the Fund cannot be guaranteed
and the Fund's dividend policy is subject to change. Any fund that
concentrates in a particular segment of the market will generally be
more volatile than a fund that invests more broadly. Bond investments
are subject to interest-rate and credit risks. When interest rates rise,
bond prices generally fall. Credit risk refers to the ability of an
issuer to make timely payments of principal and interest. Investments in
lower-quality (“junk bonds”) and non-rated securities present greater
risk of loss than investments in higher-quality securities. Investing in
foreign securities, particularly those of emerging markets, presents
certain risks, such as currency fluctuations, political and economic
changes, and market risks. Stocks may decline in value. Investing in
derivatives entails special risks relating to liquidity, leverage and
credit that may reduce returns and/or increase volatility. Leverage
results in additional risks and can magnify the effect of any losses.
There are special risks associated with an investment in real estate,
including REITS. These risks include credit risk, interest rate
fluctuations and the impact of varied economic conditions.

Deutsche High Income Trust seeks to provide the highest current
income obtainable, consistent with reasonable risk, with capital gains
secondary.Bond investments are subject to interest-rate and
credit risks. When interest rates rise, bond prices generally fall.
Credit risk refers to the ability of an issuer to make timely payments
of principal and interest. Investments in lower-quality (“junk bonds”)
and non-rated securities present greater risk of loss than investments
in higher-quality securities. Investing in derivatives entails special
risks relating to liquidity, leverage and credit that may reduce returns
and/or increase volatility. Leverage results in additional risks and can
magnify the effect of any losses.Investing in foreign
securities, particularly those of emerging markets, presents certain
risks, such as currency fluctuations, political and economic changes,
and market risks.

Deutsche Multi-Market Income Trust seeks to provide high income
consistent with prudent total return. The fund invests in a range of
income-producing securities such as US corporate fixed-income securities
and debt obligations of foreign governments, their agencies and
instrumentalities which may be denominated in foreign currencies and may
not be rated. Bond investments are subject to interest-rate and credit
risks. When interest rates rise, bond prices generally fall. Credit risk
refers to the ability of an issuer to make timely payments of principal
and interest. Investments in lower-quality (“junk bonds”) and non-rated
securities present greater risk of loss than investments in
higher-quality securities. Investing in derivatives entails special
risks relating to liquidity, leverage and credit that may reduce returns
and/or increase volatility. Leverage results in additional risks and can
magnify the effect of any losses. Investing in foreign securities,
particularly those of emerging markets, presents certain risks, such as
currency fluctuations, political and economic changes, and market risks.

Deutsche Municipal Income Trust seeks to provide high current income
exempt from federal income tax by investing in a diversified portfolio
of investment-grade tax-exempt securities.Bond investments are
subject to interest-rate and credit risks. When interest rates rise,
bond prices generally fall. Credit risk refers to the ability of an
issuer to make timely payments of principal and interest. Investing in
derivatives entails special risks relating to liquidity, leverage and
credit that may reduce returns and/or increase volatility. Leverage
results in additional risks and can magnify the effect of any losses.
Although the fund seeks income that is federally tax-free, a portion of
the fund’s distributions may be subject to federal, state and local
taxes, including the alternative minimum tax.

Deutsche Strategic Income Trust seeks to provide high current income
by investing its assets in a combination of (a) lower-rated, corporate
fixed-income securities; (b) fixed-income securities of emerging markets
and other foreign issuers; and (c) fixed-income securities of the US
government and its agencies and instrumentalities, and mortgage-backed
issuers.Bond investments are subject to interest-rate and credit
risks. When interest rates rise, bond prices generally fall. Credit risk
refers to the ability of an issuer to make timely payments of principal
and interest. Investments in lower-quality (“junk bonds”) and non-rated
securities present greater risk of loss than investments in
higher-quality securities. Investing in derivatives entails special
risks relating to liquidity, leverage and credit that may reduce returns
and/or increase volatility. Leverage results in additional risks and can
magnify the effect of any losses. Investing in foreign securities,
particularly those of emerging markets, presents certain risks, such as
currency fluctuations, political and economic changes, and market risks.

Deutsche Strategic Municipal Income Trust seeks a high level of
current income exempt from federal income tax. The fund will invest at
least 50 percent of its assets in investment-grade municipal securities
or unrated municipal securities of comparable quality, and may invest up
to 50 percent of its assets in high-yield municipal securities that are
below investment grade. Bond investments are subject to interest-rate
and credit risks. When interest rates rise, bond prices generally fall.
Credit risk refers to the ability of an issuer to make timely payments
of principal and interest. Investing in derivatives entails special
risks relating to liquidity, leverage and credit that may reduce returns
and/or increase volatility. Leverage results in additional risks and can
magnify the effect of any losses. Although the fund seeks income that is
federally tax-free, a portion of the fund’s distributions may be subject
to federal, state and local taxes, including the alternative minimum tax.

Closed-end funds, unlike open-end funds, are not continuously
offered. There is a one-time public offering and once issued, shares of
closed-end funds are bought and sold in the open market through a stock
exchange. Shares of closed-end funds frequently trade at a discount to
the net asset value. The price of a fund’s shares is determined by a
number of factors, several of which are beyond the control of the fund.
Therefore, a fund cannot predict whether its shares will trade at, below
or above net asset value.

Past performance is no guarantee of future results.

This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer or solicitation or sale
would be unlawful prior to registration or qualification under the laws
of such state or jurisdiction.

NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

Deutsche Asset & Wealth Management represents the asset management and
wealth management activities conducted by Deutsche Bank AG or any of its
subsidiaries. Clients will be provided Deutsche Asset & Wealth
Management products or services by one or more legal entities that will
be identified to clients pursuant to the contracts, agreements, offering
materials or other documentation relevant to such products or services. (R-32526-28/14)